The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it26 Loka 2021

The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today we talk about the pros and cons of ““Proof of work” and “Proof of Stake”

There are a few things that you’d want from a payment method and amongst them are quick processing, and low transaction costs.

Imagine buying a coffee on your break and the line is out the door, because everybody has to wait at the counter for 5 minutes before their credit card transaction goes through. And when it goes through, you end up paying 60 dollars in processing fees for a 3 dollar coffee.

The disadvantage of “proof of work” is exactly that. The network is less likely to handle lots of transactions at the same time, because those math puzzles require time and energy to solve. Currently, Bitcoin can only process 7 transactions per second for example, and likewise paying 50 dollars for one on Ethereum isn’t unusual.

“Proof of work” solves that. No puzzles to solve means just crunching transactions, and computers are really good at that because it is so simple. The only downside here is that you won’t be able to mine coins – meaning validate in this case – if you don’t have a substantial amount in your holding already.

And next time, we’ll talk about these differences between paying with crypto and your good old Credit Card.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

The most expensive NFTs sold to this date - Crypto in Plain English – Episode 13 - by cryptohunt.it

The most expensive NFTs sold to this date - Crypto in Plain English – Episode 13 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Let’s look at some examples of NFTs that sold for millions and speculate why. One to make main...

14 Loka 20211min

Are NFTs actually useful for artists? - Crypto in Plain English – Episode 12 - by cryptohunt.it

Are NFTs actually useful for artists? - Crypto in Plain English – Episode 12 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Are NFTs just good for speculation, or are they a new way of helping artists? Last time we dis...

13 Loka 20211min

What makes NFTs so valuable? - Crypto in Plain English – Episode 11 - by cryptohunt.it

What makes NFTs so valuable? - Crypto in Plain English – Episode 11 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Why people are spending millions of real dollars on NFTs. Last episode, we discussed what NFTs...

12 Loka 20211min

What is a NFT? - Crypto in Plain English – Episode 10 - by cryptohunt.it

What is a NFT? - Crypto in Plain English – Episode 10 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: An easy explanation of NFTs. To explain NFTs, let’s first remember how cryptocurrencies work: ...

11 Loka 20211min

What is a stable coin? - Crypto in Plain English – Episode 9 - by cryptohunt.it

What is a stable coin? - Crypto in Plain English – Episode 9 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: How crypto becomes usable with stable coins The biggest problem with making cryptocurrencies l...

11 Loka 20211min

How to get free Lizard coins into your Metamask - Crypto in Plain English – Episode 8 - by cryptohunt.it

How to get free Lizard coins into your Metamask - Crypto in Plain English – Episode 8 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Put some Lizard Coin into your Metamask for free Now that you have Metamask installed, it’s ti...

7 Loka 20211min

Why you should know Metamask - Crypto in Plain English – Episode 7 - by cryptohunt.it

Why you should know Metamask - Crypto in Plain English – Episode 7 - by cryptohunt.it

CLICK HERE to learn more about crypto wallets through a FREE course by cryptohunt.it! 007 Why you should know Metamask Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. ...

6 Loka 20211min

Why you cannot counterfeit Bitcoin - Crypto in Plain English – Episode 6 - by cryptohunt.it

Why you cannot counterfeit Bitcoin - Crypto in Plain English – Episode 6 - by cryptohunt.it

Counterfeit currency has been around for as long as we’ve had money. The Secret Service was famously created to investigate paper money forgery. But with blockchains like Bitcoin, that is no longer ne...

5 Loka 20211min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
psykopodiaa-podcast
rss-rahapodi
rss-rahamania
herrasmieshakkerit
ostan-asuntoja-podcast
rss-lahtijat
rss-sami-miettinen-neuvottelija
rahapuhetta
rss-sisalto-kuntoon
inderespodi
leadcast
rss-laakispodi
rss-seuraava-potilas
timanttia-hiomassa
rss-juurisyy-johtamisesta-kilpailuetua
rss-vaikuttavan-opettajan-vierella
rss-porssipodi
rss-johtoajatuksia